India has the capability to develop a space station, a top official of the state-owned space agency has said.

"We have all the capabilities to set up a space station. The day the country takes the decision, we will okay the project. Just draw a policy and provide us necessary funds and time," Indian Space Research Organisation (ISRO) chief A.S. Kiran Kumar told the media Monday.

The ISRO chief's statement came barely a week after India launched 104 satellites in a single space mission, breaking the previous record of 37 satellites launched by Russia in 2014.